Tell me if this makes any sense to you. I received a 2.5% raise from the good company that I work for.
I opened my slip and I almost fell over when I seen that instead of an increase in salary I had close to a $20.00 decrease along with losing all of my raise.
This should not be allowed to happen, This is finacially raping the working poor and there should be a watchdog on this.
Its very discouraging that is for sure because the more years that you put in the more that they take from you. Its just not fair!!!!!!!!!!
4 comments:
What was the deduction though? Was it more income tax because Lord claims reducing taxes or was it other deductions?
unfortunitly with your new raise it must have nudged you into the next tax bracket I remember that happening to me back a ways I was just under the next tax bracket by about $29 but had gotten a $43 raise and I was moved to the next level and lost more than I gained as crazy as that sounds it has been true for quite some time now remember this also depends on your family size,single or married and number of children as to what might have happened you should be able to get this information from your company payroll accountant,good luck!
It was more income tax. I was told here that it put me into another
taxbracket. It really pisses me off.
Do no blame you a bit. Giveth from one hand and taketh away from the other. Yes there was raise in income. For the government. You are expected to work harder now as your employer has put you in the bigger league - higher tax bracket.
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